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2018-04-09 05:00:02

WLK

Westlake Chemical

$107.19

-3.44 (-3.11%)

05:00

04/09/18

04/09

05:00

04/09/18

05:00

Westlake Chemical downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Jeffrey Zekauskas downgraded Westlake Chemical to Neutral while raising his price target for the shares to $110 from $104. The analyst cites valuation for the downgrade and believes new ethylene and polyethylene capacity is likely slow EBITDA growth and bring margin pressure. He does not see Westlake shares outperforming over the next year.

WLKWestlake Chemical

$107.19

-3.44 (-3.11%)

01/16/18

01/16/18DOWNGRADETarget $105Underperform

Westlake Chemical downgraded to Underperform on valuation at BofA/Merrill

As previously reported, BofA/Merrill downgraded Westlake Chemical to Underperform from Neutral with a $105 price target. Analyst Steve Byrne views Westlake's valuation as "stretched" and sees meaningful headwinds in polyethylene due to meaningful US supply growth. Byrne adds market share loss and contract resets are not reflected in expectations.

02/21/18

SBSH

02/21/18NO CHANGETarget $133SBSHBuy

Westlake Chemical price target raised to $133 from $125 at Citi

Citi analyst P.J. Juvekar raised his price target for Westlake Chemical to $133 citing the upcycles in chlor alkali and vinyls. Vinyls continues on an upward trajectory helped by an improving chlor alkali cycle, chlorine capacity shutdowns in Europe, China environmental regulations and improved utilization of the acquired Axiall assets, Juvekar tells investors in a research note. The analyst reiterates a Buy rating on Westlake.

As reported earlier, BMO Capital analyst John McNulty initiated Westlake Chemical with a Market Perform rating and a price target of $125. McNulty says the company offers an opportunity to invest in the current Chlor-Alkali upcycle, adding that he is also positive on Westlake's integrated nature of Olefins and Vinyls business segments. Based on the early 2018 outperformance, McNulty states that he has a more cautious near-term approach on the stock.